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Anthony Lugg reports
United Oil & Gas Plc says new test results have strengthened evidence of potential oil resources offshore Jamaica.
The company reported that analysis of seabed samples from its Walton-Morant Licence identified hydrocarbons including butanes and pentanes, which are typically linked to thermogenic or deep heat generated petroleum systems.
United Oil & Gas PLC says the findings come from 42 piston core samples collected during its 2020 Seabed Geochemical Exploration survey.
The company notes that these types of hydrocarbons are not usually associated with shallow biological gas systems and their presence supports the possibility of an active petroleum system offshore Jamaica.
United Oil & Gas adds that the results build on existing evidence, including satellite detected oil slicks, previous well data and natural oil seats both onshore and offshore.
The company says the latest survey was guided by advanced 3D seismic data and seabed mapping improving the accuracy of its exploration efforts.
Chief Executive Officer Brian Larkin says the results mark an important step towards a potential drilling decision.
United Oil & Gas estimates the licence could hold up to 7 billion barrels of prospective resources.
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